📊 Bitcoin Weekly Liquidation and Market Overview (BTC/USDT)
Last week, Bitcoin showed notable price swings, clearly visible on Binance BTC/USDT liquidation heatmap. Large liquidation clusters formed near $120,000, indicating strong resistance and heavy liquidation of leveraged longs. This confirms key trader positioning and risk management around this level.
Key Market Data:
BTC Price: $114,252
Daily High/Low: $114,880 / $113,466
24h Volume: $62.3M
Open Interest (CME): 23.2K contracts
Liquidations (24h): $62.3M total, $20.2M BTC
Technical Insights:
The liquidation map shows strong resistance near $120K, where many longs were liquidated, pressuring BTC downward. Yet, BTC trades above key trendlines, signaling possible bullish continuation if volume holds. Bitcoin’s 21-day rolling volatility remains moderate, indicating stable price moves but with risks near liquidation zones.
📅 Upcoming Macroeconomic News:
Aug 5 – US ISM Services PMI: Actual 50.8 vs Forecast 51. Slightly weaker PMI may soften USD and support crypto as alternative assets.
Aug 7 – China Trade Data: Trade balance $114.77B, exports up 5.8% YoY, stronger than expected, suggesting healthy demand and potentially boosting crypto optimism.
Aug 9 – China Inflation YoY: Slight rise to 0.1% could pressure monetary policy, increasing risk asset volatility, including crypto.
📈 Weekly BTC Price Forecast:
Support: $113,000 – $113,500
Resistance: $115,000 – $116,000
Break above $116K may trigger rally to $118K–$120K.
🔎 Trading Tips:
Short-term: Enter longs on breakout above $115K, target $118K+, stop-loss near support.
Long-term: Follow US and China economic data; macro factors will impact crypto risk sentiment.
📌 Summary:
Bitcoin shows bullish signs backed by liquidation and open interest data. However, key US and China economic indicators will influence the market’s direction. Combine technical and macro analysis for best results.
#Bitcoin #BTC #CryptoAnalysis #OpenInterest #liquidation